The modular panel of the present invention is of the type as exemplified, for example, by U.S. Pat. Nos. 5,212,924; 3,496,692; and 2,647,287 wherein panels are interconnected together along their top and side edges by latching devices and wherein a male component is installed in one panel and matches with a female component of an adjacent panel. One disadvantage of these panels is that they are costly to fabricate due to the cost and installation of the latches and the panels. Also, because these latch devices have male and female parts, it sometimes complicates the assembly of the panels in that different size panels are required to construct specific enclosures. It is difficult to provide a modular panel with this type of fastener assembly, and with tongue and grooves molded in the side and end edges of the panel and also in the side walls adjacent end or side edges thereof.